the staff of the Ridgewood blog
New Brunswick NJ, Speaking at a public policy forum at Rutgers University’s Eagleton Institute of Politics, Senate President Steve Sweeney discussed the cost-cutting reforms in the “Path to Progress” report, including those that will produce savings and efficiencies for municipalities, county governments, local school districts and their employees.
Moderating the forum was John Weingart, Associate Director of the Eagleton Institute of Politics. Also participating were Senator Steve Oroho (R-Sussex/Warren/Morris), and Richard Keevey, Senior Policy Fellow at the Rutgers University Bloustein School of Planning and Public Policy, as well as students, faculty and staff.
Senator Sweeney emphasized the need to confront New Jersey’s mounting fiscal problems so that the state can make critical investments in education, transportation, higher education and social services, among other priorities.
“We have to face up to the reality of the deep fiscal crisis we are facing,” said Senator Sweeney. “We can’t grow our way out of it, we can’t tax our way out of it, and it won’t go away by ignoring it. If we refuse to make the needed reforms, we won’t have the ability to fully fund our schools, lower college tuition costs, take over Special Education costs, fix NJ Transit or make other investments for the people of New Jersey.”
The discussion also included proposals to address soaring pension and benefit costs, make government and school districts more efficient, assess the efficiency of our tax structure and leverage state assets.
To capture savings, the report’s recommendations includes merging the high-cost School Employees Health Benefits Plan (SEHBP) into the lower-cost State Health Benefits Plan (SHBP) to take advantage of the cost savings negotiated by the Governor and the state’s largest public workers union. Combining the two healthcare plans will save money at the local level and reduce costs for school employees.
The merger would produce hundreds of millions of dollars in savings for local governments, school systems and their employees, with more savings in future years as additional school districts and government entities rejoin the SHBP.
“A number of the bipartisan fiscal reforms we are discussing today would make New Jersey more affordable for years to come,” said Senator Oroho, (R-Morris/Sussex/Warren). “We shouldn’t let another budget cycle go by without taking action to control spending and improve government efficiency. We need to work together to make New Jersey a place where everyone, from young families to retirees, can afford to live.”
Significant cost savings and educational and service improvements can also be achieved through initiatives such as K-12 regionalization, increased use of shared services at both the county and municipal levels, and shifting the cost of Extraordinary Special Education from the local to the state level, according to the report.
“We are one of the best states in the country when it comes to having an educated workforce with the skills and qualifications necessary to meet the growing demands of business and we can be better,” said Senator Sweeney. “We need to work on the continued expansion of Pre-K, full funding for schools, college affordability and vocational education. But these goals can only be realized if we have the resources to support them.”
Senator Sweeney repeated his pledge that the Path to Progress legislative package will not require retirees to pay more for their healthcare coverage.
“Forums that bring political leaders together with students and others in the Rutgers community are important for demystifying government and politics,” said John Weingart. “They create space for informative, civil conversation about some of the most pressing public policy challenges facing New Jersey and the nation.”
We are broke, but I need to find a way to spend more money.
I think the solution is to retro-fit all office buildings in NJ according to the green ‘genda
and let millions of illegal aliens into the state, allowing them to vote, go to college for free and get full government benefits.
This guy Sweeney is a union steel worker.
Do you really expect much change?
Thankfully he doesn’t like Murphy since Murphy bought the governor nomination out from under Sweeney who rightfully deserved it.
Make the ultra rich Wall Street piggies start paying their fair share of the tax burden.
econ 101 for you
If thTs true then it’s Elementary school for you James
econ 101 for you
I agree, James should start in 4th grade, his spelling and grammar are atrocious.
econ 101 for you
Apparently James has a problem with critical thinking skills. All he can do is repeat himself, LOL.
econ 101 for you
Oh don’t be jealous. It’s amazing now all the sudden it’s time to go after the public sector. Years ago nobody wanted to go for my job now you are coming from me. Not nice meanwhile We were working for little money.
The logic of public sector jobs:
1. Job security in return for less pay than private sector (have a pulse no motivation)
2. Defined sum guaranteed pension..
3. Medical benefits
Now that the unions bought and paid for the Democrats they have pay exceeding the private sector along with #1 & #2.
Don’t be greedy, pick 2 out of 3.
And speaking of greedy, they bail to lower tax states upon retirement so they don’t even support the economy of the state they are milking dry
Time to come to grips with the fact that what you call the “ultra rich wall st biggies” actually pay all of the taxes already. Let’s set aside the fact that you prog-tards would be outraged if anyone made such a sweeping generalization about the less fortunate. The more NJ raises taxes on “the rich” the more “rich” will leave. You social justice warriors are going to be stuck with the tab for all of Murphy’s out of touch spending plans. Good luck suckers – see you in Florida if you have half a brain at all.
Elementary school for you James.
There is no guaranteed Employment for you dreaming. They would never ever guarantee that even if you had no benefits at all . You could be a part time worker and they will never ever give you that.
https://www.foxbusiness.com/economy/americans-high-tax-states
The real piggies ? are on Wall Street! Those piggies ? steal money from hard working man and women through their retirement accounts with hidden fees, commissions, charges and out and out thieft.
https://www.pbs.org/wgbh/pages/frontline/business-economy-financial-crisis/retirement-gamble/how-retirement-fees-cost-you/
Here is how Wall Street piggies ? are milking the working class!
https://www.pbs.org/wgbh/frontline/article/are-401k-fees-making-companies-richer-at-the-expense-of-workers/
mangers picked by Democrats that the unions suports
Back to Elementary School for you James……
Under Chris Christie, the New Jersey pension system paid more than $600 million in fees to financial firms in 2014 — 50 percent more than a year ago, and a higher rate than almost any other state reports paying for pension management. The figures are buried within an otherwise routine annual report that appeared to change the way the fees were counted to make them look smaller than they actually are.
That accounting change comes at a time when the Christie administration is under scrutiny for investing pension money in high-fee firms whose executives made campaign contributions to Republican political groups. The move obscuring the increase in reported fees also comes on the heels of Christie telling New Jersey teachers, firefighters, cops and other public workers that “there are no alternatives” to cutting their retirement benefits because the state pension system is so strapped for cash…..
Hmmmmm, I thought Governor Christie was a republican !
https://www.ibtimes.com/chris-christie-administration-paid-600m-financial-fees-2014-1833872
and what did it pay to Macgreevy’s relatives
Supports supports not suports
Hey Charlie, I’m surprised your still here commenting. I figured by now you would have stolen enough money from your clients retirement accounts to retire and leave the country! Apparently Wall Street piggies ? like you enjoy milking the working class! ???
and what did it pay to Macgreevy’s relatives
You tell me, and by the way back it up with a reliable source ! Or are you just all talk James.
Non Mcgreevy but one of my personal favorites …
A New Jersey pension fund run by one of Barack Obama’s earliest and biggest campaign fundraisers/bundlers has lost $25 billion — including $9 billion in October, according to a report issued today by a state panel. The New Jersey Investment Council, chaired by hedge fund manager Orin Kramer, says that the value of the state pension fund has shrunk from $82 billion in July to $57 billion.
https://observer.com/2008/11/obama-bundler-says-he-lost-25-billion-of-n-j-pension-funds/
Orin Kramer doesn’t back down from a challenge. In 2002 the hedge fund manager was appointed by then-governor James McGreevey to the New Jersey State Investment Council,
https://www.institutionalinvestor.com/article/b150nxxddzj1mx/pensions-garden-state-warrior
James, I’m impressed. Very good. However, we both know (I hope) the pension funding problem started with Governor Christine Wittman and was made worse with almost every Governor after her. Governor Christie tried, but failed to fix the problem by hiring fund managers (overpaid piggies) to chase market returns. Chasing funds base on market returns is a fools game and over 80% of fund managers fail to beat the returns of the broader market.
https://archive.fortune.com/2009/05/12/news/economy/benner_pension.fortune/index.htm
https://www.aol.com/2010/08/19/legal-briefing-new-jersey-settles-secs-pension-fund-fraud-charge/
Thanks it was my business until I retired 2008 , yes Whitman or Sh$tman as she is often referred to stole money , but the ugly reality is the pension were massively under funded, not funded at all during McCreepy and Codey and sadly 600 million in fees though large for fees was just a drop in the bucket as much as I am not a fan of the NYT they has over the years some very good article on the diaster that is the NJ pension funds and all the missteps. Alterative investments like the below mentioned article also run up the management fees https://www.ai-cio.com/news/nj-pension-urged-to-boost-alt-investments/
https://www.rollingstone.com/politics/politics-news/looting-the-pension-funds-172774/#!
James you obviously have a good understanding of the public pension history of underfunding and taking of funds from the pension systems.
James, did You retire before or after the market dropped over 50 %?
2008 in the middle of the crisis I sold the biz , just lucky ,got an offer out of the blue and took it
Any regrets about selling and retiring?
there are no private employer contributions to the state pension plan